Anwar Aims to Cut Malaysia Deficit as Oil Revenue Wanes (2)

Oct. 10, 2025, 10:40 AM UTC

Malaysian Prime Minister Anwar Ibrahim plans to cut more subsidies and improve tax collection to narrow the budget deficit next year, as he grapples with lower petroleum-related revenue and dimming economic prospects.

The government plans 419.2 billion ringgit ($99.3 billion) of spending next year, according to a finance ministry report published as Anwar started his budget speech. That’s 1.7% higher than estimated expenditure for 2025, which was revised down from last year’s forecast. Spending from entities including state-linked firms will push the budget size to 470 billion ringgit, Anwar said.

“The budget prioritizes stability over surprises, with a continued focus ...

Learn more about Bloomberg Tax or Log In to keep reading:

Learn About Bloomberg Tax

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools.